Citrix
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Hauser: Grasshopper's $175M sale nearly collapsed due to a Citrix activist
“Six weeks later, after we closed that deal, an activist investor told Citrix they had to sell off all of their SaaS business. So we were weeks away from the deal not going through, right? Not because of something we did, not because of something Citrix did, an…”
Hauser: Citrix paid more upfront cash because founders had already stepped back
“They actually paid more because they didn't have to find expensive positions for me and my co-founder to be in and stupid titles, right? So they paid more cash upfront to not deal with that.”
Hauser: Grasshopper founders secured no earnout and left immediately after selling
“When we sold the company, we left the next day, me and my partner. Right. So there was no earn out. There was no time we had to spend there, nothing else.”
Hauser: Citrix "way overpaid" when it acquired Grasshopper
“We built a great company, but someone way overpaid for it, Citrix.”
Hauser: Grasshopper bootstrapped to $30M revenue before $175M Citrix acquisition
“We did build Grasshopper, bootstrapped it a hundred percent built it from zero to thirty million dollars a year in revenue before we sold it, and ultimately sold it to Citrix for a hundred and seventy-five million dollars in total.”